Editor’s Take: Anuj Singhal’s View On Market
Market: In a range
Three back to back days of ranged trading
US markets surge but cues negative for India
Dollar, Bond yields and Crude all have gone up
RBI policy this week most important cue
Nifty will see some resistance towards new highs
Near-term leadership likely to remain with IT
Nifty Outlook
Today, Nifty IT and Nifty bank may move differently
Nifty IT likely to outperform Nifty Bank
First resistance zone: 18,650-18,700
Biggest resistance zone: 18,700-18,800
First support zone: 18,450-18,500
Bank Nifty Outlook
Bank Nifty faces headwinds at higher levels
First supply zone: 44,250-44,300
Biggest supply zone: 44,500-44,600
First support zone: 43,800-43,900
Biggest support zone: 43,400-43,500